— Mitsubishi Motors Corporation (MMC) today announced it received payments totaling 165 billion yen for the issuance of preferred shares. Today's payments were for both No. 1 Class A and No. 2 Class A preferred shares.
| No. 1 Class A preferred shares |
| (Billion yen) |
| |
Mitsubishi Heavy Industries, Ltd. |
40.0 |
| |
Mitsubishi Corporation |
40.0 |
| |
The Bank of Tokyo-Mitsubishi, Ltd. |
40.0 |
| |
The Mitsubishi Trust & Banking Corporation |
10.0 |
| |
TOTAL |
130.0 |
| No. 2 Class A preferred shares |
| (Billion yen) |
| |
China Motor Corporation |
10.0 |
| |
The Tokio Marine and Fire Insurance Co., Ltd. |
10.0 |
| |
Meiji Yasuda Life Insurance Company |
7.0 |
| |
Mitsubishi Electric Corporation |
2.5 |
| |
NYK Line |
2.5 |
| |
Mitsubishi Materials Corporation |
1.0 |
| |
Mitsubishi Chemical Corporation |
1.0 |
| |
Mitsubishi Logistics Corporation |
1.0 |
| |
TOTAL |
35.0 |
Some media reported yesterday that a condition would be attached whereby the Mitsubishi companies can ask MMC for compensation if the appraisal value of their holdings declines due to MMC's faults after payment is made. However, these reports are not true.
MMC is currently moving forward with the measures outlined in its business revitalization plan, aiming to turn the company around and rid itself of past practices. By steadily implementing its revitalization plan, MMC is working to reform itself into a company that enjoys the trust of its customers and the public while making a positive contribution to all countries in which it operates.
